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Pusyno gaivos apartments IV

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100 %
  • Status funded
  • Goal 100,000 EUR (€)
  • Raised 100,000 EUR (€)
  • Investors 184
  • Interest rate 10.9%
  • Credit Duration 12 month
  • The funds will be used for real estate development;
  • The mortgaged property is attractive from a residential point of view due to its proximity to recreational areas (walking and cycling trails, a stream) and the environment is dominated by higher-priced detached residential buildings;
  • Developer has extensive experience in real estate;
  • The project owner has already invested EUR 480 000 of his own money.

About the project owner:
The project owner has experience in real estate. Has developed various real estate projects with a total area of approximately 5 743 square metres.

Project objective:
The developer will mobilise a sum of money for the conversion of a 1 554.70 square metre building – a school – into flats, for which a building permit has already been obtained. The plan is to provide 25 apartments with balconies. The total floor area of the planned apartment building is 1 853 square metres. The owner of the project intends to furnish the apartments in a modern way with all appliances and furniture, as well as complete landscaping. Once these works are completed, the apartments will be sold. Notarial transactions are expected to start in June 2024. In addition, 20 preliminary sales contracts have already been signed. The estimated sales revenue is EUR 2 200 000. The loan will be repaid from the proceeds of sales.

The maximum planned amount of financing for the Project: EUR 554 000 (EUR 244 500 already raised). The project is financed according to the current valuation of the mortgaged property until it reaches the set maximum LTV of 70%. Once the maximum LTV has been reached, a new valuation of the property will be carried out and further rounds of financing for the Project will only be advertised and collected if the maximum LTV is not exceeded. The loan-to-value (LTV) ratio with VAT at this stage is 27%.

Interest by investment amount:
From EUR 100 to EUR 499 10.9%
From EUR 500 to EUR 999  11.4%
From EUR 1 000 to EUR 1 999 11.65%
From EUR 2 000 11.9%
Important: Individual investments are not aggregated and cannot be combined.

We plan to raise the amount within 7 days, with the possibility of extending it to 21 days in the event of non-collection.

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